Key Insights
- Gold managed to settle above the $1900 level and continues to move higher.
- Silver is trying to climb above the important $24 level.
- Platinum markets remain under pressure.
Gold
Gold continues to gain ground at a robust pace. Treasury yields are moving higher today, but gold bulls ignore this move. RSI has recently entered into the overbought territory, but the current upside trend remains strong. In case gold manages to settle above the resistance at $1915, it will head towards the $1930 level.
Silver
Silver is also moving higher in today’s trading session. Currently, silver is trying to settle above the resistance level at $24.00. This resistance level has already been tested many times and proved its strength. A move above the $24.00 level will open the way to the test of the next significant resistance at $24.50.
Platinum
Platinum has recently made an attempt to settle below the 20 EMA at the $1055 level. This attempt was not successful, but platinum continues to trade near this support level. If platinum settles below the 20 EMA, it will have a good chance to gain additional downside momentum.
For a look at all of today’s economic events, check out our economic calendar.